Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc's capital expenditure, or capex. The country's top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top line growth. The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) - the slowest in 18 months - as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per cent growth in the April-September 2022 period (H1FY23).
The study showed that SARS-CoV-2 primarily infected and damaged airway and lung tissue.
The brokerage earnings estimate for the January-March 2024 quarter (Q4FY24) for Nifty 50 companies hints at a slowdown in corporate profit growth while revenue increase is likely to be in low single digits as in the previous two quarters. According to various brokerage estimates, the companies' combined net profits are expected to grow 3.1 per cent year-on-year (Y-o-Y) in Q4FY24, the slowest in the last five quarters. For comparison, the index companies' combined net profits were up 8.2 per cent Y-o-Y in Q3FY24 and 3.4 per cent Y-o-Y in Q4FY23.
'He never wanted to break rules': Paul Pogba's representative
The manufacturing licence of Noida-based pharmaceutical firm Marion Biotech has been cancelled by the Uttar Pradesh authorities, according to officials.
Vikram and Pragyan payloads are now in a power-off mode until the south pole of the lunar surface is back in the range of the Sun again.
The WADA first suspended NDTL in August 2019 for six months and extended the de-recognition period after its inspections showed that non-conformities still existed.
There were multiple claimants for 15 bodies and the DNA reports were received from the central laboratory in Delhi after about 20 days, officials said.
National Aeronautics and Space Administration's Mars rover Curiosity has made the first definitive detection of organic molecules, the building blocks of all known forms of terrestrial life, on the surface of the Red Planet.
Corporate India continues to be generous in rewarding its shareholders with big dividend payouts. This is especially true for shareholders of companies such as Tata Consultancy Services (TCS), Hindustan Zinc (HZL), and Coal India (CIL) which are seen as cash cows of large business groups and the government. Boosted by a big payout by these three companies, the combined equity dividend payout by listed companies was up 38 per cent year-on-year (YoY) to a record high of Rs 2.27 trillion in 2022-23 (FY23), compared with Rs 1.65 trillion in 2021-22 (FY22).
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Facing opposition fire for exit polls allegedly being used for stock market manipulation, Axis My India's chief Pradeep Gupta has said he is open to facing all kinds of investigations and it would help do business in a much better way if the government frames specific regulations for pollsters.
A recent study by researchers at the Indian Institute of Technology (IIT) Gandhinagar has established the presence of coronavirus in water samples from the Sabarmati river and two lakes in Ahmedabad city of Gujarat.
The injuries also included vein ruptures causing internal bleeding, a medical officer said.
Among states and union territories, the analysis by Lahariya showed that Uttar Pradesh missed the highest number of cases. With every case reported in that state, 98 cases were missed or remained undetected.
April-June 2023 (Q1FY24) was a mixed quarter for India's top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.
The government has ordered monoclonal antibody from Indian Council of Medical Research to treat the child. It is the only available anti-viral treatment for Nipah virus infection, though it has not been clinically proven yet.
A seized cannabis plant without flowering or fruiting tops does not fall under the purview of 'ganja', the Bombay high court has ruled while granting pre-arrest bail to a man accused of possessing commercial quantity of the narcotic substance.
They said after examining and analysing the adverse event reports, causal relationship and all related details shared by or to be shared by the WHO, the committee will advise and recommend further course of action to the Drugs Controller General of India (DCGI).
The woman, who was the sole breadwinner of her family, was dragged for 12 kilometres under the car on the December 31 night and was found naked by a road in Kanjhawala, according to police.
In a medical product alert on Wednesday, the WHO said the 'substandard medical products', manufactured by Marion Biotech, 'are products that fail to meet quality standards or specifications and are therefore out of specification'.
The Propulsion Module (PM) of Chandrayaan-3 has been moved from an orbit around the Moon to an orbit around Earth, the Indian Space Research Organisation (ISRO) has said, terming the operation a unique experiment.
The stormy second part of Budget Session continues.
"We continue to call on China to be transparent in sharing data and to conduct the necessary investigations and share the results. Understanding how the pandemic began remains both a moral and scientific imperative," Ghebreyesus said.
India's drug regulator has initiated a probe and sought further details from the WHO after the global health body issued an alert that cough syrups manufactured by an Indian firm could potentially be linked to the death of children in Gambia.
A nine-year-old lioness Neela and a male lion named Pathbanathan, aged 12 years, succumbed to COVID-19 earlier this month.
He challenged the order before the Bulandshahr sessions court, which on July 14, 1987 affirmed the trial court's order and upheld his conviction and sentence under the Act.
A probe has been initiated by India's drug regulator after the World Health Organisation (WHO) issued an alert saying cough syrups manufactured by an Indian firm could potentially be linked to the death of children in The Gambia, official sources said.
Three employees of a Noida-based pharmaceutical firm, whose cough syrup is alleged to have led to the death of 18 children in Uzbekistan last year, were arrested on charges of manufacturing and sale of adulterated drugs, officials said.
The Indian SARS-CoV-2 Genomics Consortium is closely tracking the new variant of COVID-19 called B.1.1.529 and its presence has not been detected in the country yet, officials said on Friday.
'We first collected samples from all the bomb blast sites.' 'We had to find what was common among them.'
Food Safety and Standards Authority of India (FSSAI) has mandated to reduce the limit of industrially produced trans-fats, to not more than 2 per cent to make the country free from the industrially-produced trans-fats by 2022, a year-ahead of the WHO guidelines, the regulator said in a statement.
Sangwan, 26, won the silver medal in 2017 Asian championship and made the World championship quarter-finals in 2016.
Padhiyar, who was allegedly driving the SUV, fled after abandoning the vehicle at the spot.
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
The genomic consortium, citing global data, said there is now clear experimental and clinical data supporting very high immune escape potential of Omicron, which appears to be the major component of its growth advantage over Delta.
The WHO on Tuesday issued a product alert over contaminated syrup by an Indian manufacturer, warning that it is unsafe for use, especially in children, and may result in serious injury or death.
Kerala is the only state, other than West Bengal (2001 and 2007), in India to have reported Nipah virus cases. Kerala is the only state, other than West Bengal (2001 and 2007), in India to have reported Nipah virus cases. The previous outbreaks in the state were in May 2018, June 2019 and September 2021. This explains the anticipation and readiness this year, reports Shine Jacob.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
